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CyberCash Files for Bankruptcy

March 06, 2001|Associated Press

CyberCash Inc., which processes credit card transactions for online merchants, filed for federal bankruptcy protection because it was unable to secure financing necessary to complete a merger. The Reston, Va., company had hoped to merge with Network 1 Financial Corp. of McLean, Va. Network 1 plans to buy all of CyberCash's operating assets. Other businesses will be able to make competing bids.

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